Required information The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 24,900 15,700 12,600 151,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 7,000 6,100 146,000 45,100 $204,200 $204,200 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $137, 100, and on account, $53,700. 2. February 12 Collect on accounts receivable, $51,800. 3. April 25 Receive cash in advance from customers, $13,200. 4. May 6 Purchase supplies on account, $9,800. 5. July 15 Pay property taxes, $8,800. 6. September 10 Pay on accounts payable, $11,700. 7. October 31 Pay salaries, $126,600. 8. November 20 Issue shares of common stock in exchange for $30,000 cash. 9. December 30 Pay $3,100 cash dividends to stockholders. 7. Prepare an adjusted trial balance. ZIPS STORAGE Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash $ 106,800 17,600 Accounts Receivable Prepaid Insurance Supplies Land Accounts Payable Deferred Revenue 151,000 $ 5,100 Common Stock 176,000 45,100 Retained Earnings Dividends 3,100 Service Revenue 8,800 126,600 Property Tax Expense Salaries Expense Insurance Expense Supplies Expense Total $ 413,900 $ 226,200